Chapter 21 Section 197

21-197.

Application to existing relationships.

(1) a limited liability
company formed on or after January 1, 2011; and

(2) except as otherwise provided
in subsection (c) of this section, a limited liability company formed before
January 1, 2011, which elects, in the manner provided in its operating agreement
or by law for amending the operating agreement, to be subject to the act and
which delivers to the Secretary of State for filing a statement of election
to be subject to the act pursuant to this subdivision.

(b) Except as otherwise
provided in subsection (c) of this section, on and after January 1, 2013,
the act governs all limited liability companies.

(c) For the purposes of applying
the act to a limited liability company formed before January 1, 2011:

(1) the company's articles
of organization are deemed to be the company's certificate of organization;
and

(2)
for the purposes of applying subdivision (11) of section 21-102 and subject
to subsection (d) of section 21-112, language in the company's articles of
organization designating the company's management structure operates as if
that language were in the operating agreement.